Running a taxi or a fleet of taxis is no different to running any other type of business in South Africa, and as with any other business, it is imperative to have the right kind of insurance cover. Taxi insurance in South Africa is designed to cover everything from the vehicle, accidents, theft and the passengers that the taxi is responsible for ferrying on a daily basis.
What does comprehensive taxi insurance cover?
- Comprehensive taxi insurance covers all damages that are sustained through taxi accidents.
- Comprehensive cover will also cover taxi hijackings and theft.
- The windscreen is covered.
- It is encouraging to know that taxis are covered against damage caused during strikes and riots – and especially in the light of the latest unrest in various towns and cities regarding a plethora of grievances, it is important to have this kind of cover.
- Comprehensive taxi insurance also covers damage to third parties.
Comprehensive taxi insurance cover offers a variety of options of excess which, as with ordinary vehicles, will enable the insurance payer to pay a lower premium.
The first access options reads like this:
- R5 000 for own damage
- R300 or R1 000 towards the repair of a windscreen.
- R5 000 towards the theft of a vehicle.
- R5 000 towards hijacking of the vehicle.
- As with all vehicle insurance, if the driver is young, say under the age of 23, the excess is R2 000, and if the driver of the vehicle has only had his license for two years the excess is R2 000.
- The third party claim will be R 2 000 and in the event of a tracking device being absent, the excess will be 10 000.
As with all vehicle insurance, it is advisable to shop around to find out which company will offer taxi insurance at the lowest cost and best cover – but take note that cheapest is not always best. If the insurance payer owns more than five vehicles there would be a discount.
It might be a good idea when looking for taxi insurance to get cover for loss of income, freestanding passenger liability, and one that will cover any death of or injury to any passengers.
